US shale oil hitting the skids, page-131

If only DLS wasn't merging
Again they were clever enough to hedge more at 50 USD, which would be generating mid 70s with currently FX . Instead come Feb they get swallowed up by the bigger unhedged bohemath who remains unhedged. All the hard work and clever decisions, the company making discoveries of Bauer will be absorbed into the bigger entity and be diluted. The benefits split of a share base of 1.7b shares They may have traded slightly lower without the TO premium but they would have been a stronger company in any long term oil downturn than their peers and would have built on their huge advantage